JTC Employer Solutions Trustee Ltd Sells 18,800 Shares of Bank of America Corporation $BAC

JTC Employer Solutions Trustee Ltd lowered its position in shares of Bank of America Corporation (NYSE:BAC) by 7.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,005 shares of the financial services provider’s stock after selling 18,800 shares during the quarter. Bank of America accounts for about 0.9% of JTC Employer Solutions Trustee Ltd’s investment portfolio, making the stock its 18th largest position. JTC Employer Solutions Trustee Ltd’s holdings in Bank of America were worth $10,871,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Abound Financial LLC bought a new position in Bank of America in the 4th quarter worth $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America during the third quarter valued at about $27,000. Legacy Bridge LLC raised its holdings in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares during the period. CrossGen Wealth LLC purchased a new position in shares of Bank of America in the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management purchased a new position in shares of Bank of America in the fourth quarter valued at about $32,000. 70.71% of the stock is currently owned by institutional investors.

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley raised their price target on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Truist Financial lifted their price objective on shares of Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group increased their target price on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Argus set a $70.00 target price on shares of Bank of America in a report on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Bank of America News Roundup

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: JPMorgan raised its BAC price target and rating. JPMorgan increased its target from $62.50 to $68.00 and assigned an “overweight” rating, implying meaningful potential upside based on the referenced price. Benzinga article
• Positive Sentiment: Higher earnings forecasts support the long-term outlook. Erste Group raised its FY2026 EPS estimate for Bank of America to $4.64 from $4.53 and its FY2027 estimate to $5.20 from $5.13. The FY2027 forecast is above the broader consensus cited in the report. Erste Group earnings estimate article
• Positive Sentiment: Analyst commentary remains generally favorable. Recent coverage highlights BAC’s second-quarter performance relative to diversified-bank peers and identifies the company as a potential beneficiary of artificial-intelligence adoption through operating-efficiency and margin gains. Bank of America AI beneficiaries article
• Neutral Sentiment: Bank of America disclosed changes in its Umicore stake. Umicore reported that BAC repeatedly crossed the 3% transparency threshold, with the position remaining around that level. The disclosure does not indicate a material change to BAC’s core business. Umicore stake article
• Negative Sentiment: Broad bank-sector selling weighed on BAC. Goldman Sachs, Morgan Stanley, JPMorgan, Citigroup, Wells Fargo and Bank of America all declined as investors positioned ahead of the Fed meeting. Uncertainty over whether rates will remain unchanged—or potentially move higher—has increased volatility across financial stocks. Bank stocks ahead of Fed meeting article

Bank of America Stock Performance

Shares of Bank of America stock opened at $61.09 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The stock’s fifty day moving average is $57.08 and its two-hundred day moving average is $53.45. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $62.99. The company has a market capitalization of $433.55 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. As a group, analysts expect that Bank of America Corporation will post 4.67 earnings per share for the current year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is 29.36%.

Bank of America Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.